Long-time manager Sir Alex Ferguson is currently employed as a club ambassador and football director of Manchester United. Starting in the summer, that will no longer be the case.
As The Athletic reports, the club is terminating Ferguson’s contract as club ambassador and manager in order to save costs. The decision was made by mutual agreement.
The Scot is said to have received a handsome salary for his services. According to The Athletic, the only official description of Ferguson’s salary can be found in the 2014 financial statements under the heading “Transactions with related parties”. There, ManUnited states that the 82-year-old entered into an agreement with the club on October 17, 2013 to become a global ambassador and in return receive almost three million euros. After almost 11 years, the contract is now being terminated.
However, Sir Alex will not completely disappear from the scene, as he is to remain on the board as a non-executive director. In addition to the six Glazer brothers, the official board of directors includes INEOS co-owner John Reece and INEOS sports chairman Rob Nevin, as well as the two independent directors Robert Leitao and John Hooks.
ManUnited repeatedly in the red
The traditional club is not in the best of financial shape. In September, the club announced a loss at the end of a financial year for the fifth year in a row. That’s why the new owner INEOS wants to make savings of up to 250 layoffs by founder Jim Ratcliffe.
Ferguson retired as manager in 2013 after 26 years in the role. During his time at the club, the Scot won 38 trophies with the Red Devils, including 13 league titles and two Champions Leagues. Despite various changes in United’s ownership, he always retained his job as ambassador and director of football.
